Los Angeles Capital Management LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Los Angeles Capital Management LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1,875.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,723 shares of the pharmaceutical company's stock after buying an additional 24,421 shares during the period. Los Angeles Capital Management LLC's holdings in Vertex Pharmaceuticals were worth $12,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $44,000. Prestige Wealth Management Group LLC boosted its position in Vertex Pharmaceuticals by 45.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after buying an additional 35 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.3%

VRTX stock traded down $1.32 during trading on Monday, reaching $458.49. 800,991 shares of the company's stock were exchanged, compared to its average volume of 1,417,062. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company's fifty day moving average price is $449.49 and its 200-day moving average price is $463.28. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.76 earnings per share. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VRTX. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Scotiabank decreased their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. Finally, Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $511.71.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.